Chindia or China plus India? Economic complementarity and competition between two asian giants

The paper explores if China’s and India’s economies are and will be mainly
complementary (the “Chindia” scenario) or instead essentially competitive (the
“China + India” scenario) between them. In the first case, the consequences
might be a more rapid shift towards Asia in the gravity center of the world
economy and perhaps the surging of a new type of globalization, alternative to
the one based on Western hegemony. In the second case, those effects might be
reduced, while the impact on developed countries would be greatly increased.
The paper deals, first, with the degrees of complementarity and competition of
China and India in the international trade of goods and services, both in domestic
and third markets. Second, the degrees of complementarity and competition
are briefly reviewed in other fields, such as foreign direct investment and other
capital flows, as well as energy and other primary products.
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